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Energy Ministry Recommends Restricting Diesel, Gasoline Exports

RUSSIA
  • With the multi-lateral Ukraine grain deal still on the backburner, Russia have reached an agreement in principle to supply grain to Turkey, with assistance from Qatar, according to Interfax. Technical details are still to be ironed out, but Russia had proposed 1mln tonnes of grain would be earmarked for Turkey at preferential prices, before being shipped to other nations in need.
  • Following previously export limits on Russian crude, the Energy Ministry is reportedly recommending that producers limit exports of Euro 5-grade diesel to just over 1.5mln tonnes across September. Euro 5 grade gasoline is also to be restricted to 103,000 tonnes, according to a letter seen by Bloomberg. The steps have likely been taken in response to high local prices of road fuels.
  • Vedomosti write on the detrimental impact of record low unemployment across a number of territories across Russia, with the shortage of personnel in key industries harming the local economy.
  • CPI data for August is due tomorrow, with Y/Y CPI seen rising to 5.10% from 4.30% previously.

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